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UPDATE: Goldman Sachs Downgrades Perrigo Company to Sell on Slowing Growth

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Goldman Sachs downgraded Perrigo Company (NASDAQ: PRGO) from Neutral to Sell and lowered the price target from $117.00 to $110.00.

Goldman Sachs noted, "We downgrade PRGO to Sell from Neutral relative to our Attractive coverage view with a $110, 12-month price target for 0% upside (vs. 9% for coverage). Historically, PRGO's revenue/EPS has grown double digits with significant operating leverage. However, we estimate PRGO's growth rate will slow more in line with peers (our five-year EPS CAGR is at 8% vs. MYL/WPI at 9%). While peer multiples have contracted with slowing growth, the PRGO multiple remains high and the significant gap in valuation (20X versus 10X) is becoming more difficult to justify."

Perrigo Company closed at $110.23 on Friday.

Latest Ratings for PRGO

DateFirmActionFromTo
Nov 2014CRT CapitalMaintainsBuy
Nov 2014CRT CapitalReiteratesBuy
Aug 2014JefferiesMaintainsBuy

View More Analyst Ratings for PRGO
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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